USDCNH trade ideas
USD/CNH will breakout from key resistance linesThe pair will breakout from key resistance lines, sending the pair higher towards its previous high. O January 31, America officially restrict Chinese citizens coming from all parts of mainland China from entering the country. This was amid the continuous spread of the deadly coronavirus abroad. The decision came a month after the US and China signed the phase one trade deal. Analysts estimated that the travel restrictions will cost the US economy of about $10 billion. In line with this, analysts’ projection for the US gross domestic product (GDP) slip to 1.7%, below the 2% target. On the other hand, Chinese Easter Airline has become the first major Chinese carrier to suspend flights to and from the United States. These actions have made the US and Chinese stock market to plummet and their currencies to enter a wild ride. Before these actions, US indices (S&P 500, Dow Jones Industrial Average, and NASDAQ 100) are hitting their all-time highs.
USDCNH - MONTHLY HIGHER LOWIt seems that the monthly higher low is set. If it is set we can search for a lower high or a higher high!
On the lower timeframe's we broke out of a downward channel, a retest of that broken trend line can occur, if not we can just move North :)
The RSI and stochastic need to cool off a bit before a upward movement.
- Not financial advice -
USDCNHMULTI TIME-FRAME ANALYSIS DONE.
TRADE SHOULD ONLY BE TAKEN IF IT FITS YOUR IDEA OR PLAN.
TRADE SMART.
ridethepig | CNH Spot Commentary 2020.02.03An important update to the CNH chart after the latest coronavirus measurements and impact calculations. PBOC stepped in as expected to stop the bleeding and SHCOMP ending the day with a lucky -8%:
In the FX market, the impact will show over the coming sessions as demand for CNH increases with capital rushing to the doors. This is not a healthy technical looking picture, buyers were tracking the "Cup and Handle" formation earlier last year till we traded the rejection live in the diagram:
Although it takes a brave man to step against the current flows as they have been short-circuited via a temporary demand shock, I continue to look to ride the pig to the downside here and trade the leg towards the lows in the 6 handle via USD devaluation.
Good luck all those navigating around the coronavirus flows, we will keep the charts updated incase of any breakouts to the topside. If this is the case we will need to reassess the view as the 7.27xx technical target which I mentioned earlier would be back in play.
Thanks for keeping the support coming with likes, comments and etc!
USDCNH Long OpportunityCurrently waiting on Price Action to breakout of its Descending Channel, leading us back to potentially a higher set of historical data as we have reason to proceed Long.
Fibonacci / Completion of Exhaustion will be necessary before entering with proper Risk - Reward.
$USDCNH$USDCNH (6.98) - At channel resistance
- A break > 7.00 would target 7.20
- A weaker CNH is likely to see weaker EM FX (ZAR, BRL)
- Currencies most exposed to weaker China growth via trade...$AUD by far, then $BRL and then $ZAR
USD/CNH (A Downtrend Channel is spotted)View On USD/CNH (20 Dec 2019)
Apparently UCNH is starting to show the channel of a steady downtrend and it shall continue that way.
I expect it to go down to 6.88 regions soon. Let's see.
All the best.
DYODD, Our trade analysis may not suitable to intraday (or) short time frame trading.
Whatever method you use if you do not follow the proper rule of risk management, it will have detrimental effects on your account.
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USDCNH BULL SETUPTO ALL THOSE WHO LONG TERM TRADE WE'VE GOT A ENGULFING CANDLESTICK SETUP ON WEEKLY TIME FRAME...MARKET MIGHT PULLBACK B4 MOVING UP.
USDCNH approaching resistance, look out for potential reversal!
USDCNH is approaching its resistance at 6.9419 where it is could reverse down to its support at 6.8416.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USD/CNH Long opportunityNice seting being printed here...A long trade with several TP on the up with no obstacles till 7xx
USDCNH bounced from support, potential for a further rise!
USDCNH bounced off 6.9330 where it could potentially rise further to 6.8416.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDCNH LongWe can see a strong uptrend on this pair and here is a daily chart with a deep correction and good buy price action for more up side. Already into the buy with stop loss at break even
USDCNH, US Dollar - China Yuan: Falling WedgeFX:USDCNH
If a bullish breakout should occur on this falling wedge, we will eventually try to get back on this cross.
The first trade closed at a loss at 60% of the initial maximum risk.
In this way we had optimized the realized losses reducing as often happens the % at initial risk.
We do the same thing when trades follow our direction and also optimize profits.
What happens in this way?
We conclude trades in 45% of cases with a profit of 3/4 times the losses. We have even earned 20 times more than the initial risk a few times.
Our first goal is always not to lose money.
Why?
Because we have learned from the best traders in history, and we want to take part in that elite as well.
Happy Trading to All!
(EP #22) Kelvin Trade Ideas - USDCNH Bat Pattern 2020-01-13A bullish bat pattern is almost complete in daily chart, it provides a potential reversal level (PRZ) from 6.86400 to 6.83940. This buying opportunity is a follow-trend trade because the weekly chart shows us market is in up trend clearly. The PRZ overlap the bottom of the bearish channel, I am waiting for confirmation signals to long this market.
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Weekly EMA50 aligned with Resistance DISCLAIMER and RISK WARNING: Trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them. Don't trade with money you can't afford to lose. The contents and information provided here are for information purposes only, and are neither a solicitation nor an offer to buy or sell forex, cryptocurrencies, futures , commodities or stocks.
